Applying for a traditional small business loan from a corporate bank has never been an easy task. The applicant has to fill out a lengthy application, undergo a credit check, submit a business plan, and answer a myriad of other questions regarding the past, present and future plans of the business.
Category: All Posts
Many businesses sputter along in the summer making June, July and August the longest months of the year indeed to business owners and managers. Yet the stagnation of sales during those long summer months doesn’t have to be such a downer. With a little planning and proper cash flow and revenue forecasting that takes into account seasonal peaks and valleys, summertime can be a productive – and recuperative – time of year for your business and your employees.
Few businesses or industries are immune to cash flow problems from time to time. Yet industries with seasonal business cycles such as commercial landscaping and maintenance are more prone to cash flow issues than others. Equipment and materials costs, expensive payroll costs, fuel costs and competition are high. The worst part is you will probably have to pay these costs well in advance of actually collecting payment from your customers. Commercial landscaping can be very competitive and customers routinely pay on 45- or 60-day terms.
Summer time can be slow time for many businesses and industries. Yet for those in commercial landscaping sector, it can often be one of the busiest times of year. Property managers and business owners regularly seek to improve their properties’ exterior during climate weather periods. For those in the hotel, hospitality and vacation industry, landscaping and maintenance work really increases during this time. Manicured lawns and verdures are a vital component to the success of these industries and they are very well aware of it.
For some industries, particularly those in hospitality, entertainment and events, summer represents the peak season of business. Long lines at amusement parks, booked hotel rooms, and filled show and concert venues help sustain the business year-round. The boom in travel also helps secondary or support businesses such as those in commercial landscaping and maintenance that thrive when those in hospitality do.
The United States, historically one of the world’s leading importers of oil and gas, is on its way to becoming a leading exporter. In a dramatic turnaround that was previously unheard of, the nation is on its way to surpassing Russia and even Saudi Arabia as an exporter of oil. Thanks to the shale oil and gas boom, the dream of independence from foreign oil may finally become a reality.
Small business financing and consumer financing have an overlap with banks and credit unions offering long term loans to each, yet other financing options are often only available to one market but not the other.
General staffing agencies and temporary employment agencies have seen tremendous growth during the past four or five years. Such firms often need the assistance of professional commercial staffing financing to support this rapid growth in such a short period of time. If you are not in the employment industry, you might be surprised to learn about this hiring growth due to media attention that has mostly focused on flat employment numbers.
It’s the quiet comeback story of the past year: U.S. based manufacturing has been on the rise and the trend appears to be continuing, according to recent reports by the Institute for Supply Management’s index. According to the ISM report, the year 2013 ended with the largest increase in durable goods new orders in more than two and a half years.
One of the most fundamental laws of physics is that every action has an equal and opposite reaction. In more generalized terms, this means that one action affects another, and every act has a consequence, intended or unintended. What does this mean from an economic perspective? Currently, politicians in Washington are debating increasing the minimum wage to help workers rise out of poverty. Sounds good, right?